Major Brit retailer COLLAPSES into administration

Major Brit retailer COLLAPSES into administration

More than 700 jobs are now at risk after Countrywide Farmers collapsed.

The company is the UK’s leading supplier of agricultural goods with 48 stores.

It sells products for farming, equestrian, pets, shooting as well as home and garden items.

Administrators KPMG have now been drafted in to take over the affairs, business and property of the company.

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According to a statement on Countrywide Farmers’ website, it will “seek a purchaser for the business in whole or part” and has flown in Hilco Capital to assist in the running of its stores while it searches for a buyer.

Although no initial redundancies have been made, the company’s directors have said “a very uncertain future” remains for Countrywide.

The company, based in Evesham in Worcs, announced plans to sell in April 2017, but a potential sale to Mole Valley Farmers Ltd fell through in October.

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ADMINISTRATION: More than 700 jobs at Countrywide Farmers are now at risk

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The news comes amid a wretched few weeks for retailers, with Toys R Us and Maplin going bust last week.

Restaurant chain Prezzo also announced it was closing a third of its UK restaurants, and New Look confirmed it was shutting down 60 stores.

The slow death of the High Street is a result of shoppers heading online, while the weak pound from Brexit is also hitting firms hard.